Pacific Gas & Electric plans $250 to $350 million of notes in fourth quarter

By Andrea Heisinger

Omaha, Sept. 5 - Pacific Gas & Electric Co. plans to issue about $250 to $350 million in senior unsecured debt during the fourth quarter of this year, according a presentation from the company's chief financial officer.

The utility is also projecting additional long-term debt to fund capital expansion plans. This will amount to an annual issuance of about $1 billion from 2008 to 2011.

The company's notes are rated Baa1 by Moody's Investors Service and BBB+ by Standard & Poor's.

Parent PG&E Corp. is based in San Francisco and provides natural gas and electricity to much of northern California.

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